Guideline Value for Block 17 Keerakara Street (or) Marimuthu Street

Block 17 Keerakara Street (or) Marimuthu Street guideline value

The current guideline value for Block 17 Keerakara Street (or) Marimuthu Street is Rs 825 per sq.ft, effective from 1 July 2024. This street is located in Ward D village under the Erode Joint I SRO and is classified as Residential Class II Type - II.

How the guideline value of Block 17 Keerakara Street (or) Marimuthu Street has changed

The guideline value for this street has seen several revisions over the years. In 2002, the value was Rs 428 per sq.ft, which increased to Rs 481 per sq.ft in 2003, marking a 12% rise. The value then rose by 25% to Rs 600 per sq.ft in 2007, followed by another increase of 25% to Rs 750 per sq.ft in 2012. However, it experienced a significant drop of 33% to Rs 502 per sq.ft in 2017. The value then rose sharply by 49% to Rs 750 per sq.ft in 2023, and finally, it increased by 10% to the current rate of Rs 825 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 93%. There are no revisions with figures missing for this street in the register.

Guideline values in Ward D

In Ward D, the guideline values for 200 streets under the Erode Joint I SRO range from Rs 770 to Rs 7,700 per sq.ft, with a median value of Rs 798 per sq.ft. The guideline value for Block 17 Keerakara Street (or) Marimuthu Street is above this median.

• Block 17 Meera Moydhin Street: Rs 825 per sq.ft (2024)
• Block 17 Jayaram Lane: Rs 770 per sq.ft (2024)
• Block 17 Cauvery Road: Rs 3,300 per sq.ft (2024)
• Block 17 Ayyanarappan Kovil Street 1,2,3a: Rs 825 per sq.ft (2024)
• Block 17 Valaiyakara Street: Rs 1,375 per sq.ft (2024)
• Block 16 Valaiyakara Street: Rs 1,375 per sq.ft (2024)

Stamp duty and registration fee for property in Block 17 Keerakara Street (or) Marimuthu Street

For a 1,000 sq.ft plot at the current rate of Rs 825 per sq.ft, the guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, totaling Rs 74,250. The duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Block 17 Keerakara Street (or) Marimuthu Street?

The Sub Registrar Office that covers Block 17 Keerakara Street (or) Marimuthu Street is the Erode Joint I Sub Registrar Office, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009, Coimbatore registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Ward D

The guideline value is a critical factor in property transactions in Ward D, as it determines the minimum value for registration purposes. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure that they comply with local regulations and avoid any potential legal issues during the transaction process.

Frequently asked questions

What is the current guideline value for Block 17 Keerakara Street (or) Marimuthu Street?

The current guideline value for Block 17 Keerakara Street (or) Marimuthu Street is Rs 825 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 428 per sq.ft in 2002 to Rs 825 per sq.ft in 2024, representing an overall increase of 93% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 8,25,000, the stamp duty would be Rs 57,750 and the registration fee would be Rs 16,500, totaling Rs 74,250.

Which office handles the registration for this street?

The Erode Joint I Sub Registrar Office handles the registration for Block 17 Keerakara Street (or) Marimuthu Street, located at Annai Sathya Nagar, Iranian Street, Rangapalayam, Erode-638009.

What is the land classification for this street?

Block 17 Keerakara Street (or) Marimuthu Street is classified as Residential Class II Type - II.